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Webinar: Main Street Lending Program’s Applicability for Tribal Businesses<\/strong><\/p>\n On August 4, 2020, at 2:00 PM EDT, the Federal Reserve\u00a0will provide an overview of the Main Street Lending Program<\/a>‘s applicability for Tribal Businesses.\u00a0The session will cover terms, conditions, and eligibility requirements. The session will focus in particular on issues of interest to tribal businesses, including the waiver of CARES Act restrictions relating to dividend distributions made by tribal businesses to tribal governments. The webinar is also an opportunity for participants to get answers to questions from officials from the Federal Reserve.<\/p>\n Registration is now open.<\/a><\/p>\n The Federal Reserve encourages interested participants to review the program materials on the\u00a0Federal Reserve Bank of Boston website<\/a>.<\/p>\n You may submit questions in advance by emailing questions@askthefed.org<\/a>.<\/p>\n Background:\u00a0<\/strong><\/p>\n The\u00a0Main\u00a0Street\u00a0Lending\u00a0program was created to support the economy by ensuring small and medium-sized businesses have the credit they need during the COVID-19 crisis. While tribal businesses were deemed eligible for the program on April 30, 2020, restrictions were placed on dividends prevented tribes from applying for this program. Through FAQs effective July 15, 2020<\/a>, the Federal Reserve granted a waiver for tribal government businesses from the dividend prohibition of the\u00a0Main\u00a0Street\u00a0Lending\u00a0Program and they are now able to apply.<\/p>\n The Federal Reserve established three facilities:\u00a0Main\u00a0Street\u00a0Loan Facility (MSLF),\u00a0Main\u00a0Street\u00a0Priority Loan Facility (MSPLF), and\u00a0Main\u00a0Street\u00a0Expanded Loan Facility (MSELF).\u00a0 The MSLF offers\u00a0loans\u00a0ranging from $250,000 to $35 million, MSPLF\u00a0loans\u00a0range from $250,000 to\u00a0 $50 million, and MSELF\u00a0loans\u00a0range from $10 million to $300 million. To be eligible for either facility, a tribal business must meet one of the following conditions:<\/p>\n This expanded access to the\u00a0Main\u00a0Street\u00a0Lending\u00a0Program has the potential to provide much-needed capital to Indian Country.<\/p>\n On August 4, 2020, at 2:00 PM EDT, the Federal Reserve\u00a0will provide an overview of the Main Street Lending Program’s applicability for Tribal Businesses.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[5,6],"tags":[43],"class_list":["post-7628","post","type-post","status-publish","format-standard","hentry","category-events","category-organizations","tag-nafoa"],"jetpack_featured_media_url":"","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/7628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/comments?post=7628"}],"version-history":[{"count":2,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/7628\/revisions"}],"predecessor-version":[{"id":7630,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/7628\/revisions\/7630"}],"wp:attachment":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/media?parent=7628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/categories?post=7628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/tags?post=7628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Resources<\/em><\/strong><\/h3>\n
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